Are you thinking about buying a condo? If yes, then you must know that the Greater Toronto Area is one of the hottest real estate market in the country and that Mississauga pre-build condos might just be the perfect one for you. Pre-build condos give you the opportunity to customize the unit according to your taste and preferences, but there is more to that. There are actually other things a buyer should consider before buying. Getting an experienced realtor who can help you throughout the process is one of the best decisions you can make when purchasing a pre-build condo in Mississauga.
Benefits of Buying Pre-Build
As the name suggests, you are buying a not-yet-built condo directly from the builder before construction begins. This has its advantages, including:
- You are the first owner to the brand new unit. Meaning, you can customize it exactly the way you wanted including appliances, cabinetry and flooring.
- Lower prices compared to detached homes. Because of the risk of the project being delayed or called off, pre-construction condos tent to be cheaper. Not to worry though, this rarely happens in high-demand areas like Mississauga.
- Gives you more time to prepare your finances. In pre-construction, you pay the builder in a series of payments as a deposit. Depending on the deposit structure, it usually adds up to 20 to 25 percent of the purchase price by the time of occupancy.
- You have the final say. You have the option to input the design and certain elements for your unit ahead of time. You can freely decide on your appliances, finishing, cabinets, and flooring.
Condos will always appreciate over time. Take the opportunity now to maximize this potential for high appreciation by getting on early in launch prices. Additionally, builders will usually throw in other incentive offers such as lower maintenance fees.
How A Realtor Helps
Home buying requires a ton of documentation, and this can be a lot to take for buyers especially if it’s their first time buying a home. Getting a realtor can make a big difference, a realtor can give you advice on the property’s true market value as well as all the closing fees you need to prepare for. A competent realtor knows how to skillfully read building plans and easily identify if all of the necessary amenities are present and accounted for. A realtor can also help you negotiate upgrades and cap on closing costs. The builder has also built in the fees to the buyer’s agent – in fact, they do not reduce the purchase price if you don’t use one. This transaction has so many nuances and subtleties that it is definitely worthwhile to get the help of an experienced professional.
Realtors also have access to the condo properties before it’s even released to the public. There are VIP events that they can attend before the release. Once released to the public, prices usually increase during the first and second phase.
A Mississauga pre-build condo is the perfect way to enter the market and a realtor will help you get it right.
Contact Sushma Khinvasara today to discuss all of the benefits of purchasing a Mississauga condo as a living space or as an investment property. Discover everything this exciting area has to offer and find the unit that is perfect for your specific needs